Victims of Bernard Madoff’s Ponzi scheme are due to begin 2018 with new checks totaling $584 million from the trustee unwinding the con man’s company, boosting total payouts to almost $11.4 billion.

The latest checks will range in size from $563 to almost $88 million, trustee Irving Picard said Monday.

With the payments, more than half of Madoff’s customers who submitted approved claims to Picard – or 1,386 of 2,265 – will have recovered their lost principal in full.

The distribution is financed by $1.3 billion in settlements and recoveries since the last payout in February, Picard said.

It’s the ninth so far. Additional recoveries and payments are expected for 2018, he said.

Picard has said he expects to recover all of the lost principal and perhaps more.


Only subscribers are eligible to post comments. Please subscribe or to participate in the conversation. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.

Kennebec Journal & Morning Sentinel news

Get news and events from your towns in your inbox every Friday.
  • This field is for validation purposes and should be left unchanged.